The global automotive ABS motor market is expected to grow at a significant CAGR of 8.5% from 2022 to 2032. In 2022, the market was valued at approximately USD 4.5 billion and is forecasted to reach around USD 16 billion by 2032.
The personal vehicle sector leads the market due to the rising number of cars equipped with ABS systems. Major markets like the United States, China, Germany, and India are anticipated to continue dominating the industry, driven by strong car sales. The growing demand for hybrid and electric vehicles, coupled with the installation of ABS systems at production facilities, is a key growth factor. Additionally, strict safety regulations in countries such as China, the U.S., and several European nations are expected to significantly increase the demand for ABS motors.
The expansion of the overall automotive industry is the primary driver of the ABS motor market. The rising popularity of high-performance vehicles, including SUVs and luxury cars, is also fueling market growth. Furthermore, the Asia-Pacific region is predicted to become a highly profitable market due to the widespread adoption of ABS systems in modern vehicles, driven by regulatory safety standards.
However, the high maintenance costs associated with ABS-equipped vehicles could limit their adoption, particularly in the secondary market, potentially affecting the overall growth of the automotive ABS motor market.
Explore Market Potential and Gain Competitive Advantage – Request Your Sample Copy of Automotive ABS Motor Market Now!
Key Takeaways from Automotive ABS Motor Market Study
- The overall growth of the global automotive ABS motormarket is estimated to be around USD 11.5 Billion over the forecast years through 2032, by experiencing the astounding CAGR of 5%.
- According to FMI, through 2022 to 2032, North America is expected to experience the highest growth rate in the sales of automotive ABS motor in the global market.
- Even during projected period of 2022-2032, Western Europe is predicted to become a particularly opportunistic marketplace for automobile ABS motors, according to FMI survey.
Competitive Landscape for the Automotive ABS Motor Market
Some of the well-known contact centre as a service market players are LG Innotek, Mahle, Johnson Electric Holdings Limited, Continental AG, Parker Hannifin Corporation, and Denso Manufacturing Italia S. P. A. among others.
Major manufacturers of conventional and electric cars have recently expanded their product lines with fitted ABS, which is expected to boost the demand for automotive ABS motors as per speculations.
Key Segments Profiled in the Automotive ABS Motor Market Survey
By Vehicle Type:
- Passenger Car
- Mid-Size
- Compact
- Luxury
- SUVs
- Light Commercial Vehicle (LCV)
- Heavy Commercial Vehicle (HCV)
- Electric And Hybrid Vehicle
By ABS Type:
- One Channel, One Channel Type ABS
- Two Channel, Four Sensor Type ABS
- Three Channel, Three Sensors Type ABS
- Four Channel, Four Sensor Type ABS
- Three Channel, Four Sensor Type ABS
By Sales Channel:
- Original Equipment Manufacturers (OEMs)
- Aftermarket
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- APEJ
- Japan
- Middle East and Africa
Recent Developments in the Global Automotive ABS Motor Market:
- In addition to hybrid and gasoline engines engine variants with cutting-edge ABS-EBD stopping or braking technology, BMW, that is a German multinational premium car company, made an announcement of the BMW 7 Series in this year, 2022. It is predicted that several new car releases equipped with ABS systems would increase demand for automotive ABS motors in Western Europe.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-347-918-3531
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube